“If the Fed and US government continue racking up unsustainable debt and losses, this will eventually erode confidence in the US dollar. The CRE markets are already a source of trouble, and if they begin to topple the FED can’t help. The dollar's status as the world's reserve currency could be jeopardized, triggering a global financial re-ordering.”
Earlier in the year I wrote a piece containing the above quote and the alarming image below.
I followed up this warning about debt, real estate and reserve currencies with a more rigorous article that examines the sources of danger in more detail.
You can read that here:
Much has happened since these warnings in April and June.
The DJIA initially increased nearly 3,000 points from the trough in April to the crest in July. Since July 17 the Dow Jones has dropped 1,460 points including a 610 point drop yesterday that saw 1.5% of the exchange disappear.
Worldwide approximately $3T of wealth was destroyed yesterday.
I believe it never really existed.
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